In Possible Electoral Suicide
France Gets More
Austerity.

The
French government is going all out to
preserve France's AAA bond rating.
It might ensure its electoral
defeat. Nov.11, 2011

The French
president is up for reelection inhalf a yearand
he is leading up to the campaign with
austerity measures.

Therefore the AAA rating
awarded French debt has become the
French financial Verdun position
that must be
held at all costs. If the
AAA rating is breached, it will
probably constitute the coup de
grace to the French president's
hopes for reelection. The government
is counting on the maturity of the
French voter in acceptingthe
bitter medicine:

“We have only one
goal: to protect the French people
from the serious difficulties that
many European countries are now
facing.Our
citizens are now aware of the risks to
our livelihoods and futures caused by
deficits and debt.”

Lucky
for Obama, U.K.'s Cameron Is
Embracing Austerity First 7/10/10

With the threat of a
double-dip recession looming, both the
U.S. and
the U.K. are
talking fiscal austerity. The
good news for Obama is that Cameron
is cutting first.

If his nerve holds,
Cameron is about to embark upon an unprecedented
experiment. He has told
government departments to brace for
spending cuts of as much as 40 percent
as he seeks to shrink both the U.K.'s
record budget deficit and a public
sector that now accounts for nearly 20
percent of all U.K. jobs.

U.K.
government employees, long willing to
accept lower wages in return for job
security and lucrative pensions, are horrified
at the ax heading their way.
The Office for Budget Responsibility, a
unit created by Cameron to give
spin-free assessments of the economy, is
predicting 610,000 job cuts in the
public sector during the next five
years—11 percent of the total public
workforce. That would leave 4.92 million
workers on the government payroll out of
a total of 30 million employed Britons.

With
so many job cuts and higher taxation,
does UK Prime Minister David Cameron
fulfill the passage in Daniel -

Daniel
11:20

Then
shall stand up in his estate a raiser of
taxes in the glory of the kingdom: but
within few days he shall be destroyed,
neither in anger, nor in battle.

Remember
what comes next...

Daniel
11:21

And
in his estate shall stand up a vile person,
to whom they shall not give the honour
of the kingdom: but he shall come in
peaceably, and obtain the kingdom by
flatteries.

The
path Cameron is charting is arduous, and
public opposition is likely to become very intense.

Fate
of euro is in the balance, warns Cameron
as Coalition plans for 'Armageddon’ Nov.11, 2011

David Cameron warned
yesterday that the “moment of truth is
approaching” over the future of the euro
in the wake of the Italian economic
crisis.

David
Cameron said Britain
was 'contingency
planning' for a
possible break up of
the eurozone.

I posted
before,the
Mark of the Beastcomes
out of the UK, the home
of the AntiMessiah,
where the Vile
Personwill emerge.

Vile -
morally despicable,
intellectually
dishonest.

RBS
investment bank to
shrink as EU debt woes
hit Q3

Reuters
– Nov 4, 2011

RBS
the Royal Bank of
Scotland, 83
percent-owned by the UK
governmentafter
it was bailed out during
the 2008 financial
crisis, said on
Friday it expects a tough
fourth quarter after it
took a further
hit on its Greek
government bonds and
sold
most of its Italian
bonds.

"What Prime
Minister David
Cameron is focused on
is ensuringthat we
protect
the UK economy
from the global
economic storm.By
taking the action we have
taken, and in particular
having a credible plan for
reducing our deficit and
getting a grip on our
debts, we have been able
to ensure that theUK has
been seen as a safe
haven in the markets."

The "safe haven"
comment points to the
fact that the UK's bonds
yields are hovering at
all-time lows, showing
the high level of
confidence in the
country's ability to pay
its debts.

RBS
was rescued by the
U.K. government in
2008 and is now83
percent state-owned.
Lloyds
Banking Group Plc
(LLOY),
which was rescued at
the same time,is
41 percent
state-owned.
The government has tried
to manage both at arm’s
length, with a view to
privatizing them again
when the market recovers.
The issue of large bonus
payments to traders at
bailed-out banks has strained
that policy.

IATA
CEO: EU's ETS is a 'hornet's
nest' that needs to be resolved November 3, 2011

The EU has "stirred up
a hornet's nest" by insisting it will move
forward with the inclusion of aviation in its
Emissions Trading Scheme (ETS) starting Jan.1,
2012.